VIDEO: Gautam Adani soothes frayed nerves amid marketcap slump

To calm the jittery nerves of Adani Group shareholders, Gautam Adani, Chairman of the Group, released a video message on Thursday morning. Adani Group Chairman Gautam Adani explained the reasons for calling off FPO even after its successful completion.

He says: “…considering the volatility of the market yesterday, our Board strongly felt that it would not have been morally correct to proceed with the FPO.” The main objective of the withdrawal of the IPO was to insulate the investors from potential losses, he views.

Gautam Adani thanked all stakeholders, and particularly the investor community, for their overwhelming support of the Group. He says: “In my humble journey of four decade as an entrepreneur, I have been blessed to receive overwhelming support from all stakeholders and particularly the investor community and I owe all my success to them and for me the interest of my investors is paramount and everything is secondary.”